During this past weekend, cryptocurrency services company Cornerstone Global Management launched its CP3 (Crypto Pay & Pension Plan) program in beta. CP3 allows US employees to get a portion of their paycheck automatically converted to cryptocurrency.
Now, today it was announced that the CP3 platform is powered by Uphold, the U.S. based digital and crypto services provider. The CP3 program uses the Uphold platform to convert and send a designated portion of a user’s paycheck to any wallet that holds Bitcoin, Litecoin or Ethereum.
“Uphold is the perfect partner for Cornerstone to begin its CP3 program. It will provide a new phase in ease of use for employees who want a portion of their pay automatically converted into cryptocurrencies. With Uphold’s platform and customer service, CP3 users will know they are in good hands.”
– David Schwartz, Founder, Cornerstone Global Management, LLC
How It Works
On the Cornerstone app or website, users can determine a percentage to withdraw from their paycheck to be allocated and automatically converted to Bitcoin, Litecoin and/or Ethereum.
The portion of the paycheck reserved for crypto is first deposited to Cornerstone via ACH. Next, Uphold powers the underlying conversion of funds to crypto, which is then sent to the user’s designated wallet(s).